PANews reported on November 6 that according to an official announcement, the Indian crypto exchange WazirX announced that it will launch a recovery token for outstanding debt repayment. The token will be airdropped based on the creditor's balance ratio on the platform. The token will be airdropped based on the creditor's balance ratio on the platform: 1. Future platform profits; 2. New business opportunities; 3. Realization of third-party non-current assets; 4. Recovery of stolen assets; 5. Funds brought by white knight proposals (usually refers to a third party willing to acquire or invest in a troubled company at a high price to help it out of trouble).
The main use cases of recovery tokens include: 1. Repurchase, that is, enhancing creditor asset recovery through repurchase and capturing market opportunities; 2. Additional liquidity, that is, according to the wishes of creditors, tokens can be traded in the open market, obtaining funds in advance, providing flexibility and immediate value.
Earlier in July, it was reported that WazirX was hacked and the loss exceeded US$230 million.
